Amata: Coworking for Professionals Blog

Starting a business of any kind can be hard. Recent law graduates face an even bigger challenge in getting new ventures off the ground due to the highly competitive nature of their field. It takes a lot of upfront capital to start something, and even more hard work and commitment to see it though to success.

Revenues can come from net new business and from expanding services to existing clients. Most of a firms marketing efforts go towards net new business. Let’s discuss how we can increase revenues with existing clients.

How do you select the best virtual office program? There has been a big increase in the demand for virtual office programs recently. With the increased demand  many new players, looking to make a quick buck, have entered the playing field. Some are marketing companies, with no direct responsibility for the services you are receiving.

Employee utilization rates may be the most ignored or misunderstood stat in small businesses and law firms. Instead of using quantifiable data, many small businesses rely on emotions or intuition to determine when it is time to hire a new employee.

We are going on our third year living with Covid-19 and some of the early predictions about a hybrid work/office model are starting to become reality. But the truth is, this reality looks different for almost every law firm and is heavily influenced by personal preference, type of law practiced, and individual situations.

Recent events in the shared office space realm compel me to update this article with a couple of very important points that were not mentioned originally. Today I met with an attorney who was originally introduced to me more than three years ago when he was considering changing his office space.

Even if you’re not in the market to sell your law firm, there are several reasons to value your firm such as a possible firm merger, securing loan financing, the addition of new partners, and other business and personal matters such as your succession/exit strategy.

As most of the world is emerging from the pandemic and trying to figure out what the new normal will look like, many law firms and professional organizations are moving to a hybrid work environment.

Recently I was reading an article about a first grader that noticed his father was having difficulty with the car radio, so he explained to his father he should reverse-engineer it. It seems law firms would be well-served to apply the same thinking this first grader used with his father’s car radio to their business operations.